Economic Buzz: US Leading Economic Index Climbs In July18-Aug-2017 (10:25)

The US Conference Board said its leading economic index increased by 0.3 percent in July after climbing by 0.6 percent in June. The Conference Board released a report on Thursday showing that its index of leading economic indicators rose in line with estimates in July, suggesting the U.S. economy may experience further improvements in activity in the second half of the year. The report said the coincident economic index rose by 0.3 percent in July after inching up by 0.1 percent in June. The lagging economic index also ticked up by 0.1 percent in July after rising by 0.2 percent in the previous month.

According to the minutes of the latest RBI monetary policy meeting, a normal and well-distributed south-west monsoon for the second consecutive year has brightened the prospects of agricultural and allied activities and rural demand. By August 1, rainfall was 1% above the long period average (LPA) and 84 per cent of the country's geographical area received excess to normal precipitation. Kharif sowing has progressed at a pace higher than last year's, with full-season sowing nearly complete for sugarcane, jute and soybean. The initial uncertainty surrounding sowing of pulses barring tur and rice in some regions has also largely dissipated. Sowing of cotton and coarse cereals has exceeded last year's levels but for oilseeds, it is lagging. Overall, these developments should help achieve the crop production targets for 2017-18 set by the Ministry of Agriculture at a higher level than the peak attained in the previous year. Meanwhile, procurement operations in respect of rice and wheat during the rabi marketing season have been stepped up to record levels - 36.1 million tonnes in April-June 2017 - and stocks have risen to 1.5 times the buffer norm for the quarter ending September.

The spot prices of wheat are trading around previous close on sharp gains in domestic and global wheat supplies. The agencies has raised the targets in the wake of bumper production estimates in the current year. As per official data, the second Advance Estimate of the ministry of agriculture was a record 96.64 mt, as compared to 92.29 mt in 2015-16.

Steady trend continued in jeera on low arrivals in local mandies . The daily arrivals have been reduced to 5000 bags against total demand of 15000 bags . The prices have been trading in the range of Rs 19100 -19500 per quintal . Cumin output has been declined by 13 per cent year-on-year to 3.87 lakh tonnes in 2016-17. During 2016-17, India's Cumin exports increased by 22 per cent year-on-year in volume to 1,19,000 tonnes and 28 per cent in value to 1,963 crore.

Sharp surge in exporter's demand from lower levels has supported turmeric prices in local mandies. Sources also stated that total daily arrivals of 900 bags have been reported in Nizamabad mandi, while 12000 bags arrived in Erode mandi. The spot prices of turmeric increased by Rs 100 per quintal , with the price range of Rs 6800-7500 per quintal.

Strong global cues have aided soya oil demand in local mandies.The spot prices increased by Rs 1.20 per kg today. As per the latest release by Solvent Extractors' Association of India , the import of vegetable oils during June 2017 is reported at 1,344,868 tons compared to 1,169,456 tons in June 2016 i.e. up by 15%, consisting of 1,293,777 tons of edible oils and 51,091 tons of non-edible oils.

Steady meal demand has supported mustard seed prices in local mandies. As per the latest data compiled by Ministry of Agriculture, kharif oilseeds area declined by 1.46% at 154.29 lakh hectares compared with 169.98 lakh hectares. Traders stated that spot prices increased by more than Rs 15 per quintal today in Jaipur, while arrivals were reported in the range of 1.00 -1.20 lakh bags.

Strong demand by millers have aided chana prices in local mandies. The daily arrivals of chana have been reported at 50 motors in Delhi mandi. The spot prices were trading in the range of Rs 5700-5750 per quintal. As per the latest data compiled by Ministry of Agriculture, pulses acreage is reported at 127.98 lakh hectares so far against 129.59 lakh hectares in the year-ago period.

The international crude oil price of Indian Basket as computed by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 49.41 per barrel (bbl) on 15.08.2017. This was lower than the price of US$ 50.63 per bbl on previous publishing day of 14.08.2017. In rupee terms, the price of Indian Basket decreased to Rs. 3163.51 per bbl on 15.08.2017 as compared to Rs. 3241.54 per bbl on 14.08.2017. Rupee closed at Rs. 64.03 per US$ on 15.08.2017.

Euro area trade surplus rose to a seasonally adjusted EUR 22.3 billion from EUR 19 billion in May, as the pace of decrease in imports was bigger than the fall in exports, Eurostat reported Thursday. This was the highest surplus seen so far this year. Exports slid 1.9 percent, while imports declined markedly by 4.1 percent in June from May. On an unadjusted basis, the trade surplus totaled EUR 26.6 billion compared to EUR 28.9 billion in the same period of previous year. Year-on-year, exports increased 3.9 percent in June and imports advanced 6.2 percent.

Eurozone inflation remained stable at 1.3 percent in July, final data from Eurostat showed Thursday. The rate came in line with the flash estimate published on July 31. Inflation continues to stay well below the ECB's target of 'below, but close to 2 percent'. Meanwhile, core inflation that excludes energy, food, alcohol and tobacco, rose slightly to 1.2 percent, as estimated, from 1.1 percent in June. On a monthly basis, harmonized consumer prices dropped 0.5 percent in July.

Powered by Commodity Insights

Economic Buzz: UK Retail Sales Rise In July17-Aug-2017 (15:06)

UK retail sales volume grew 0.3 percent month-on-month in July, the same rate as logged in June, data from the Office for National Statistics revealed Thursday. Sales were expected to rise at a slower pace of 0.2 percent. Excluding auto fuel, retail sales climbed 0.5 percent after rising 0.6 percent in June. This was also faster than the expected 0.1 percent. On a yearly basis, retail sales volume growth slowed to 1.3 percent from 2.8 percent in June.

Powered by Commodity Insights

International Prices Of Imported Edible Oil At Domestic Ports As On 17th August 2017 17-Aug-2017 (14:12)

Global Iron ore prices are edging up after recent losses. The futures fell last week on continued weakness in steel prices. However, today, in Singapore, the benchmark 62% fines Iron ore futures edged up after falling nearly 5% in last four sessions. Some demand is emerging in Chinese steel markets and a continued uptick in global equities is also supporting sentiments for Iron ore. The September Iron ore futures are quoting around $74 per tone right now after ending just above $70 in last session. Futures are recovering after testing their two week low near $69.50 per tone.

"KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary."

Attention Investors:

"Prevent Unauthorised transactions in your account --> Update your mobile numbers/email IDs with your Stock Brokers. Receive information of your transactions directly from Exchange on your mobile/email at the end of the day .......... Issued in the interest of investors"

"Prevent Unauthorized Transactions in your demat account --> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from NSDL/CDSL on the same day......................issued in the interest of investors."

"No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."